FedEx Further Expands its Environmentally-Friendly Vehicle Fleet With Order of 51 New Azure Dynamics Hybrid Electric Delivery Vans

Establishing First FedEx All-Hybrid Facility
MEMPHIS, Tenn.--(Business Wire)--
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), today announced it will
purchase 51 additional gasoline-electric hybrid vehicles from Azure Dynamics
Corporation (TSX: AZD). The FedEx fleet of hybrid electric and electric vehicles
will total 325 when all 51 hybrid step-vans are delivered during November and
December of 2009. Most of the new FedEx gasoline-electric vehicles will be put
into service at a Bronx, N.Y., station, making it the first FedEx all-hybrid
facility with about 100 trucks.

"Even during a challenging fiscal year, FedEx has continued to make investments
in hybrid electric and electric vehicles a priority because of the long-term
value in vehicle technologies that reduce fuel costs and pollution," said John
Formisano, vice president of Global Vehicles, FedEx Express. "FedEx now operates
seven different hybrid or electric truck models around the globe, demonstrating
that commercial delivery vans can reduce pollution and increase efficiency
without any sacrifice in performance and durability."

"We applaud FedEx for its continuous effort to conserve resources and minimize
its environmental impact," said Scott Harrison, CEO of Azure Dynamics, "and we
are delighted that FedEx has again chosen to use Azure`s Balance Hybrid Electric
gasoline drive train."

"The tough driving and delivery conditions of New York City, mainly the
stop-and-go-traffic, is an ideal environment to prove that efficient and cleaner
transportation technologies are a viable alternative to conventionally equipped
trucks," said Mitch Jackson, director of Environmental Affairs and
Sustainability, FedEx Corp. "FedEx continues to advance clean truck technology,
and is pleased that our ongoing leadership enhances the industry`s interest and
development of hybrid commercial vehicles."

With its electric-launch assist, engine-off at idle, and regenerative braking,
the FedEx Azure gasoline-electric step-vans are well-suited for the tough
start-and-stop conditions endured in the everyday traffic of one of the world`s
busiest cities. As a result, FedEx expects a fuel efficiency improvement of 30%
while also reducing its carbon footprint.

Twenty FedEx Azure Balance Hybrid Electric gasoline step-vans are already in
service across the FedEx Express delivery network in California. Overall, FedEx
currently operates 274 hybrid electric and electric vehicles around the globe,
and 1,780 alternative fuel vehicles and equipment. The addition of these 51
vehicles takes FedEx to a total of 325 hybrid electric and electric vehicles,
and more than 1,800 alternative fuel vehicles and equipment. The FedEx hybrid
fleet has logged more than four million miles of revenue service since being
introduced in 2004, reducing fuel use by 150,000 gallons and carbon dioxide
emissions by 1,521 metric tons.

Today`s announcement is the third significant advancement in FedEx`s alternative
vehicle fleet in recent months. In June 2009, FedEx converted 92 existing trucks
to hybrid-electrics in its delivery fleet-the first of its standard FedEx
delivery trucks retrofitted to hybrid-electric systems. In late August, FedEx
completed the rollout of ten new state-of-the-art electric commercial vehicles
for use in the United Kingdom. With zero tailpipe emissions, the FedEx electric
vehicles will save around 11 tons of CO2 a year compared to a similar-weight
diesel vehicle.

The New York State Energy Research and Development Authority (NYSERDA) plans to
provide a grant to FedEx for the Azure hybrids. NYSERDA, in part, aims to
maintain momentum for the State`s efforts to develop competitive markets for
energy efficiency.

About FedEx

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad
portfolio of transportation, e-commerce and business services. With annual
revenues of $34 billion, the company offers integrated business applications
through operating companies competing collectively and managed collaboratively,
under the respected FedEx brand. Consistently ranked among the world's most
admired and trusted employers, FedEx inspires its more than 275,000 team members
to remain "absolutely, positively" focused on safety, the highest ethical and
professional standards and the needs of their customers and communities. For
more information, visit news.fedex.com.

About Azure Dynamics

Azure Dynamics Corporation (TSX: AZD) is a world leader in the development and
production of hybrid electric and electric components and powertrain systems for
commercial vehicles. Azure is strategically targeting the commercial delivery
vehicle and shuttle bus markets and is currently working internationally with
various partners and customers. The Company is committed to providing customers
and partners with innovative, cost-efficient, and environmentally-friendly
energy management solutions. For more information please visit
www.azuredynamics.com.

FedEx Communications
Deborah Willig, 901-508-4377
deborah.willig@fedex.com
or
Azure Dynamics
Jay Sandler, 248-298-2403, Ext. 1205
Vice President Sales
jsandler@azuredynamics.com

Copyright Business Wire 2009